Norges Bank Buys New Position in Air Lease Co. (NYSE:AL)

Norges Bank acquired a new stake in Air Lease Co. (NYSE:AL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,025,002 shares of the transportation company's stock, valued at approximately $49,415,000. Norges Bank owned approximately 0.92% of Air Lease at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Air Lease during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Air Lease in the 3rd quarter valued at about $31,000. Steward Partners Investment Advisory LLC increased its holdings in Air Lease by 1,506.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock valued at $57,000 after buying an additional 1,115 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Air Lease by 679.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company's stock worth $72,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Air Lease by 2,018.9% in the 4th quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company's stock valued at $108,000 after purchasing an additional 2,140 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. UBS Group set a $50.00 target price on Air Lease in a report on Friday, March 7th. Finally, Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.67.

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Air Lease Stock Performance

Air Lease stock traded up $3.66 during trading hours on Wednesday, hitting $44.12. The stock had a trading volume of 2,246,585 shares, compared to its average volume of 754,616. The company has a 50-day moving average of $46.53 and a two-hundred day moving average of $46.87. The company has a market cap of $4.93 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. Air Lease Co. has a fifty-two week low of $38.12 and a fifty-two week high of $52.31. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, equities research analysts anticipate that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Tuesday, March 18th. Air Lease's payout ratio is presently 26.43%.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.